Take Regular IRA Payouts

You can take "substantially equal periodic payments" from an IRA at any age for any purpose, without penalty. Once you begin such payments, you must continue withdrawals for at least five years or until you are 59 1/2, whichever is longer. The simplest method to calculate the payments: divide your IRA balance by your life expectancy. If that produces more cash than you need, split your IRA up and take payments from just one part.